Tinkoff targets blockchain in new development hub

Written by Michelle Stevens

09/02/2018

Russia’s Tinkoff Bank is to open a development hub in Moscow that will focus on delivering new business solutions based on blockchain, as well as voice and face recognition technologies.

The online-only bank said that improving its financial ecosystem “through the use of highly promising technologies and research” will be the hub’s first priority. The team will also be tasked with developing biometric voice and face recognition technologies to enhance customer experience, improve the security of financial transactions and augment in-store analytics.

Tinkoff’s development centre will sit within an IT cluster created by the Skolkovo Foundation, which aims to foster entrepreneurship and innovation. The IT cluster includes hundreds of startups, some of whom are already engaged with the bank.

Vyacheslav Tsyganov, VP and CIO of Tinkoff Bank, said: “Skolkovo has everything needed to develop some truly disruptive initiatives. New development teams are already being created and are in the acceleration stage taking part in some of the bank’s existing projects. They will be able to proceed on their own at Skolkovo in the coming weeks.”

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